Selling Your Business
Are you selling your business?
Are your books and records ready for intense scrutiny?
Can a buyer or investor adequately evaluate your business from your financials?
Can you quickly obtain documentation for everything in your books for the last three (3) years?
Can you quickly explain activity in your books from three (3) years ago?
Do you know whether you have any gaps or shortcomings in your books that would derail a sale?
Do you want to get top dollar for your business?
Is all income accounted for over the past three (3) years?
Are all tax returns filed for the past three (3) years?
Are you ready for the hard questions?
Are you operating in a due diligence ready state?
Don’t wait until the last minute to get your financials in order. Not being ready can delay the sale or, at worst, cancel the sale altogether.
Buyers are looking for clear, objective facts that will convince them that your business will be a profitable investment for them. There may be several reasons a buyer is interested in your business, but the primary among them is the bottom line. As a result, you need to provide comprehensive, solid financials that demonstrate the historical performance of your business.
Buyers often place more weight on financials that have been scrutinized by a professional which can increase your asking price. Comprehensive, organized record keeping, including strong financials are a critical part of the sales process. Poor financial record keeping is the # 1 deal killer. Don’t let that be you!